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CARE cuts rating of DHFL's Rs 1.2 lakh crore outstanding securities

Monday, February 4, 2019, 7:18 PM

Rating company CARE Sunday reduced by a notch the creditworthiness of about Rs 1.2L crore of outstanding securities at home financier Dewan Housing Finance, pointing to higher funding costs for para banks that have been buffeted by a series of defaults at infrastructure financier IL&FS. Records showed that 25 mutual fund houses collectively hold DHFL paper worth Rs 8,650 crore as of December 2018.
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DHFL to exit mutual fund business DHFL Pramerica

Tuesday, December 18, 2018, 7:29 PM

Housing finance firm Dewan Housing Finance Corp. Ltd (DHFL) on Tuesday said that it will sell its entire stake in mutual fund business DHFL Pramerica Asset Managers Pvt. Ltd to its joint venture partner US-based Prudential Financial Inc., the company said in an exchange filing. DHFL said it will also sell the 50% stake it holds in DHFL Pramerica Trustees Pvt. Ltd.
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Sensex swings 1500 points, closes 280 points lower

Friday, September 21, 2018, 5:19 PM

The Sensex on Friday fell nearly 1,500 points in intraday trade to 35,993.64 from the day's high of 37,489.24. Nifty also fell below the 11,000-mark to a low of 10,866.45 from day's high of 11,346.80. The indices were dragged down by finance stocks after Dewan Housing Finance Limited (DHFL) slumped over 50% on reports of defaulting on its commercial paper.

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